To advance its sustainability goals, Walmart has successfully priced the company’s first green bond, it announced.
The company will use the net proceeds from the $2 billion green bond offering to fund existing and future sustainability projects, Walmart noted. The retailer reported it intends to allocate an amount equal to the net proceeds of the $2 billion offerings toward a portfolio of eligible green investments that meet certain eligibility criteria within the areas of renewable energy, high-performance buildings, sustainable transport, zero waste and circular economy, water stewardship and habitat restoration and conservation.
The company said it will issue a public report with information on eligible green investments allocation and estimated impact on an annual basis until an amount equal to the net proceeds of the green bond has been allocated.
Walmart noted that it had brought in an outside consultant with recognized expertise in environmental, social and governance research and analysis to issue a second party opinion as regards alignment of eligibility criteria with green bond principles, and the company’s external auditor EY will provide an assurance report on each allocation report.
